DTN Closing Livestock Comment 06/25 16:11
25 Jun 2018
DTN Closing Livestock Comment 06/25 16:11 Cattle Futures Crash With Triple-Digit Losses Live and feeder issues settled sharply lower given news of lower cash sales and larger-than-expected May placement activity. Lean hog futures fared only marginally better, closing solidly lower in the first three contracts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle arena was typically quiet for a Monday with packers preoccupied with the gathering of new showlists. Ready steers and heifers appear to number well below last week, especially in Kansas and Colorado. According to the closing report, the national hog base is $0.42 lower ($72-$80.30, weighted average $79.50). Corn futures failed by another 6-7 cents Monday, pressured by generally favorable growing crop conditions and further worries over global trade. Bracing for the Trump administration's next move against the Chinese economy, the stock market closed sharply lower. The Dow lost 328 points while the Nasdaq caved by 160.